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Amgen Inc (NASDAQ: AMGN) Investor Securities Class Action Lawsuit 04/17/2007

  • If you purchased shares of Amgen Inc (NASDAQ: AMGN), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Amgen Inc
Security
NASDAQ: AMGN

Case Name
Amgen Lawsuit Class Action Lawsuit 04/17/2007
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Settlement Notice
amgen_inc_settlement_notice_8_2016.pdf
Settlement Proof
amgen_inc_settlement_proof_8_2016.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$95,000,000.00
Deadline to Participate in Settlement

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Summary

October 26, 2016 - The court approved the settlement and entered the order approving the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
August 9, 2016 - The court preliminarily approved the settlement.

July 20, 2016 - Parties filed a stipulation of settlement.

August 4, 2014 - The court granted in part and denied in part the defendants' motion on dismiss.

May 13, 2014 - Defendants filed a motion to dismiss.

May 5, 2014 - The lead plaintiff filed a corrected second amended consolidated complaint.

April 23, 2014 - The lead plaintiff filed a second amended consolidated complaint.

February 1, 2008 - The court granted in part and denied in part the defendants' motion to dismiss.

November 8, 2007 - The defendants filed a motion to dismiss.

October 1, 2007 - The lead plaintiff filed an amended consolidated complaint.

July 31, 2007 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

June 19, 2007 - Additional lead plaintiff motions were filed.

June 18, 2007 - Lead plaintiff motions were filed.

May 11, 2007 - Another investor filed a complaint in the U.S. District Court for the Central District of California on behalf of investors who purchased Amgen Inc (NASDAQ: AMGN) common shares between May 4, 2005 through May 10, 2007.

April 17, 2007 - An investor in shares of Amgen Inc (NASDAQ: AMGN) filed a lawsuit in the U.S. District Court for the Central District of California against Amgen Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 4, 2005 March 9, 2007.

The complaint alleges that between May 4, 2005 March 9, 2007, defendants marketed Aranesp and Epogen to doctors for off-label uses. As a result, Amgen Inc sold several hundred million dollars worth of drugs each year for these off-label uses. In October 2006, a group of researchers halted a clinical study of head and neck cancer patients treated with Aranesp because more deaths occurred in patients taking Aranesp than in those taking a placebo. Amgen Inc did not disclose these results to investors. On February 16, 2007, a publication called The Cancer Letter published an article about the results of the study and on March 9, 2007, the FDA mandated a “black box” warning regarding the off-label use of Aranesp and Epogen. These revelations caused Amgen Inc (NASDAQ: AMGN) stock price to decline.

Amgen Inc, the largest biotechnology company in the world, makes and sells Epogen and Aranesp, erythropoiesis-stimulating agents, a type of drug which encourages the creation of oxygen carrying red blood cells.

Date Settled